How to build a portfolio of small bets (without hating your life):
Remember that to thrive, you must first survive. The order matters.
Instead of trying to succeed, try not to fail. Make sure your self-employment arrangement becomes sustainable quickly by going for the low hanging fruit.
Instead of trying to succeed, try not to fail. Make sure your self-employment arrangement becomes sustainable quickly by going for the low hanging fruit.
Low hanging fruit are opportunities that require very little cost, time, and effort — even if it means they're not the most enjoyable and have limited upside.
Try as many of these "small bets" as you can, and run them in parallel — no need to wait for a failure to do the next.
Try as many of these "small bets" as you can, and run them in parallel — no need to wait for a failure to do the next.
What you consider low hanging fruit depends a lot on your circumstances. Explore your strengths and opportunities, and try to imagine some quick wins you can pursue. Once survival stops being a pressing concern, you can go for more ambitious opportunities.
Keep all bets safe-to-fail, and ideally cannot-fail. Mix different types of bets to tame the uncertainty of each bet. As some start to work, eliminate those that are least enjoyable.
As soon as you can afford it, optimize for enjoyment. Otherwise, this arrangement won't last!
As soon as you can afford it, optimize for enjoyment. Otherwise, this arrangement won't last!
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